Nasdaq Leads Solid Up Session As Bull Run Continues Unabated | Stock News & Stock Market Analysis

Major stock indexes moved further into new-high ground Thursday, ending with solid gains, as Wall Street prepped for Friday’s jobs report.

XAutoplay: On | OffThe 10-year Treasury yield added 2 basis points to 2.35% ahead of Friday’s jobs report that’s expected to show nonfarm payrolls up by 100,000, below August’s total of 156,00 and hurt a bit by hurricanes in Texas and Florida.

The Nasdaq composite and S&P 500 extended their winning streaks to eight sessions, rising 0.8% and 0.6%, respectively. The Dow Jones industrial average rose 0.5% and the Russell 2000 added 0.3%. Preliminary data showed volume on the NYSE and Nasdaq coming in very close to Wednesday’s levels.

In the stock market today, Netflix (NFLX) mustered a solid breakout over a 190.05 buy point after the internet television network announced price hikes for two out of three of its U.S. streaming plans. Shares ended at 194.39, up more than 5%. Fellow FANG stocks Facebook (FB), (AMZN) and Alphabet (GOOGL) showed gains ranging from 1.6%  to 1.9%.

Elsewhere, Norwegian Cruise Line (NCLH) gapped above the 50-day moving average, rising more than 4% to 58.41. It’s a breakout candidate as it approaches its prior high of 61.48. Shares outperformed on news it’s being added to the S&P 500 index effective tomorrow.

On the earnings front, spirits maker Constellation Brands (STZ) jumped 4% to 209.25. Headed into earnings, the stock was still in buy range from a 199.99 buy point, holding above the 50-day moving average. It’s borderline extended now.

Among superregional banks, BB&T (BBT) gained nearly 3% to 47.62 as it approaches a buy point of 49. Among money centers, Goldman Sachs (GS) led in the Dow, rising more than 2%.

Shares of UPS (UPS) lagged, falling 0.7%, the latest victim of (AMZN), which said it’s testing another home delivery service where it would pick up packages from third-party merchants selling on its platform, providing two-day service to eligible customers. FedEx (FDX) wasn’t affected at all by the news, rising 0.1% to 221.60

Inside the IBD 50, Essent Group (ESNT) continues to trade tightly above the 40 level as it works on a flat base with a 41.54 buy point. Shares rose 1% to 40.35.


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Originally posted 2017-10-06 08:27:56.


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